Bangladesh Fund Updates

Investment Corporation of Bangladesh (ICB) has completed the registration of Bangladesh Fund. They also made a strategy for investing in the stock market. Their strategy is to buy stocks with P/E (Price – Earnings Ratio) less than 20. This fund will be invested in the stock market following the rules & regulations of Mutual Funds. BD fund is expected to play an important role in this bearish market. It is to be stated here that SEC (Security & Exchange Commissions) has approved a trust deed & investment management agreement on the Tk 5,000 crore on 18th April, 2011. ICB, Sonali Bank, Janata Bank Agrani Bank, Rupali Bank, Bangladesh Development Bank, Sadharan Bima Corporation & Jibon Bima Corporation will jointly sponsor Tk 1,500 Crore. The rest of the fund will be raised from institutions & individuals.